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Customer Loyalty: Experiences that Increase Retention

InMoment XI

In fact, 64% of loyal customers are more likely to purchase frequently, and 31% are willing to spend more to stay with their brand of choice. Since customers have so many businesses competing for their attention, investing in customer loyalty can give you a major competitive edge. What Is Customer Loyalty?

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Building a Better Loyalty Program (and the Reward for Getting It Right)

BlueOcean

loyalty programs on average. If, for example, you’re a member of Nordstrom’s loyalty program, Nordy Club, you’re among a group of customers who are likely to spend three to five times more than non-members, and are consequently driving two-thirds of Nordstrom’s sales. The Downlow on Loyalty: Reciprocity is Key.

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Loyalty Marketing Programs: How CX Insights Can Inform Incentives

InMoment XI

It’s easy to confuse loyalty marketing programs with customer experience (CX) programs; both seek to drive positive customer relationships and retention. But it’s crucial to define each individually before we parse out how a CX mindset can inform what incentives your business should provide customers.

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The Power of Customer Behavior Analysis

InMoment XI

Furthermore, when researching a brand or product, most consumers prefer to do their own research rather than speak to a human. Why Is Customer Behavior Analysis Important Customer behavior analysis provides information that helps businesses meet customer needs, build stronger relationships, and drive business growth.

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Reduce Customer Churn to Boost Revenue and Stay Competitive

InMoment XI

This information guides product development to better fulfill customer needs and goals. It improves your brand image : Happy customers are more likely to recommend your business, helping support brand reputation management efforts. Besides improving customer experiences, you can encourage loyalty with rewards and incentives.

2024 195
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Voice of Customer Analysis to Improve Customer Loyalty and Retention

InMoment XI

Customers are increasingly likely to switch brands if they don’t feel satisfied. Loyal customers are likely to spend more and advocate for your brand. As a result, businesses must double down on efforts to understand their customers’ goals and pain points to drive loyalty. It enables informed decision-making for CX teams.

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Voice of Customer Examples to Inspire Your CX Strategy

InMoment XI

If your brand isn’t capturing customer feedback, unfortunately it won’t know how to improve—this is where the voice of customer (or “VoC”) comes in. In technical terms, a VoC program is the process of gathering vital information regarding what customers think and feel about their experiences with a business.